Vident Advisory LLC Invests $4.46 Million in McCormick & Company, Incorporated (NYSE:MKC)

Vident Advisory LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the first quarter, according to its most recent filing with the SEC. The fund acquired 58,011 shares of the company’s stock, valued at approximately $4,456,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $44,000. Valley National Advisers Inc. increased its holdings in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares during the period. Private Trust Co. NA increased its holdings in shares of McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares during the period. Lindbrook Capital LLC raised its position in shares of McCormick & Company, Incorporated by 16.5% in the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after buying an additional 134 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.2 %

Shares of MKC traded up $0.88 during mid-day trading on Friday, hitting $75.65. 506,226 shares of the company’s stock traded hands, compared to its average volume of 1,986,837. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $20.32 billion, a P/E ratio of 27.28, a PEG ratio of 3.83 and a beta of 0.75. The business’s 50-day moving average price is $70.91 and its 200-day moving average price is $70.67. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.42 dividend. The ex-dividend date was Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Analyst Ratings Changes

A number of equities analysts have weighed in on MKC shares. Barclays upped their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. TD Cowen cut their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.25.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The disclosure for this sale can be found here. Insiders sold a total of 107,732 shares of company stock valued at $7,982,386 in the last quarter. 22.90% of the stock is owned by insiders.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.